Crawfords reports strong results
Global loss adjuster Crawford & Company has reported a net income of $US7.9 million ($9.1 million) for the second quarter of this year. The result is up $US6.1 million ($7 million) on the same quarter last year.
International earnings increased 28% to $US113.4 million ($130 million).
Operating earnings more than doubled from $US4.6 million ($5 million) in the second quarter of last year to $US10.4 million ($12 million).
US property and casualty revenue increased 7.2% from $US47 million ($54 million) in last year’s second quarter to $US51.2 million ($58.5 million).
The company attributes its improved margins to its strong cost management and technological improvements.
“Our operating result reflects the strongest second-quarter performance since 2001,” Crawfords CEO Jeffrey Bowman said.
International earnings increased 28% to $US113.4 million ($130 million).
Operating earnings more than doubled from $US4.6 million ($5 million) in the second quarter of last year to $US10.4 million ($12 million).
US property and casualty revenue increased 7.2% from $US47 million ($54 million) in last year’s second quarter to $US51.2 million ($58.5 million).
The company attributes its improved margins to its strong cost management and technological improvements.
“Our operating result reflects the strongest second-quarter performance since 2001,” Crawfords CEO Jeffrey Bowman said.